As technology evolves, so do the ways businesses can utilize it to help drive results, manage the workplace more effectively, improve customer experience, improve security for retail businesses and reduce the environmental impact of business operations. There are numerous devices and systems available on the market today that business owners can use to benefit their practices and the future of their business. How can they make the best of these and use them to their advantage?
A small business loan can be a powerful tool for growing your business, or just meeting day to day expenses. Deciding that you need a loan may be easy but the real challenge is making sure you're ready to apply for financing.
Before approaching a lender, it pays to make sure you're putting your best foot forward. This checklist serves as a handy guide for getting your business prepped for a loan.
Are you a small business owner ready to seek outside funding? You might think that finding a lender is the initial step. However, there’s an important financial ratio you should understand first. The debt-service coverage ratio (DSCR)helps determine whether or not your business can take on a loan and the size of small business loan you can handle. Additionally, lenders frequently use DSCR as a way to evaluate whether they should lend money to a business. Having a good debt service coverage ratio can be critical to getting low-cost funds for your business.
There are certain elements that you need to run a successful small business. A solid business plan and determination can take you far, but if you really want to grow, you'll need capital to fund your expansion plans.
If you don't want to drain your cash reserves, a loan may be just what you need to pursue your next phase of growth. Before you can advance your business using a loan, however, you have to be sure that it's the right move.
What can a small business use a loan for?
If you're like most small-business owners, your business probably experienced at least one significant change this year. What you may not realize is that some changes impact your business insurance needs.
Let's take a look at three of the most common business changes and what they mean for your risk exposure and commercial insurance needs.
The merchant cash advance industry runs largely unregulated. People who take out these high-interest loans often put their livelihood and business at risk as they struggle to keep up with the payments.
Small Business Majority and Kiva are working together to help entrepreneurs access the capital and resources they need to successfully grow their businesses. Read on to learn about Kiva and see how you can leverage Kiva’s network to get 0% interest capital for your business. And to learn more about funding options for your small business, join us on October 5 for a free webinar with Kiva.
Three months ago, we were sitting at a bar in Brooklyn complaining about our jobs. We had no idea this all-too-common conversation would lead us to quitting those jobs and starting our own business. We’ve known each other for eight years, since meeting as magazine interns in college, and, though our career paths never overlapped, we had always wanted to work together. Our belief that teen girls deserve to feel informed and empowered inspired us to start Clover, a daily email newsletter and community for high school and college-aged girls.
The US Department of Treasury has announced its intent to release a white paper next week pertaining to their review of the marketplace lending industry (orginally labeled peer to peer lending). The document is expected to encapsulate the many comment letters submitted to Treasury following their initial “Request for Information” (RFI) in July of 2015. Treasury followed up the request with a gathering of over 80 industry participants in August of 2015 that included an “impromptu” visit by Secretary of the Treasury Jack Lew who gave a brief “supportive” speech.
If you’re an entrepreneur looking to borrow money to grow your business, applying for funding might dampen your excitement. Bank business loan applications are tedious, tiring, and cumbersome, but the more convenient online business loans cost more.
Why the difference? Here’s what you need to know.
Banks Get Money Cheaper
Online business loans from alternative lenders cost more for borrowers because they cost more for lenders, too. Banks simply have access to cheaper money from a couple of different sources.